Coca-Cola posts Q4 earns of $1.2B vs. year-ago $927M

MichaelBaron

NEW YORK (MarketWatch) -- Coca-Cola
KO, +2.49%
Wednesday reported fourth-quarter earnings of $1.2 billion, or 50 cents per share, up from its year-ago profit of $927 million, or 38 cents per share. Net operating revenue rose 2 percent in the latest three months to $5.26 billion from $5.18 billion in the same period a year earlier. Excluding items, the Atlanta-based soft drink giant earned 46 cents per share in the latest quarter. The average estimate of analysts polled by Thomson First Call was for a profit of 40 cents per share on revenue of $5.19 billion in the December period. The Dow component said its earnings in the latest quarter got a lift of 3 cents per share from positive currency fluctuations and 3 cents per share from a lower than expected tax rate. The higher revenue reflects a 2 percent increase in gallon sales, improved pricing of concentrate and the positive currency trends. The company also said it's mulling the repatriation of overseas earnings in 2005, estimating the maximum amount that could be repatriated would be $6.1 billion, and that it plans to increase its buyback activity to at least $2 billion in 2005. The stock closed Tuesday at $42.65, down 21 cents.

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